Costa Rica's prime rate rises to 5.75%

Effective today, the basic bond interest rate (TBP) in Costa Rica will rise 25 basis points to 5.75 percent, according to the nation's Central Bank.

Thursday, July 10, 2008

The TBP appears to be in an uptrend after falling to a cyclical low of 4.25 percent on April 16, after touching 7.25 percent in january. Since April both public and private banks have been increasing their lending rates.
The average interest rate paid by the state bank on six-month deposits has risen to 4.46 percent from 4.11 percent in April. Private bank certificates during the same period have risen from 3.48 percent to 4.54 percent.

More on this topic

Dominican Rep. Monetary Policy Rate Drops to 5.75%

April 2015

The Central Bank of the Dominican Republic has reduced its policy rate by 50 basis points, going from 6.25% to 5.75%.

From a statement issued by the Central Bank of the Dominican Republic:

At its monetary policy meeting in March 2015, the Central Bank of the Dominican Republic (CBDR) decided to reduce its monetary policy interest rate (MPR) by 50 basis points, going from 6.25% pa to 5.75 % per year, from April 1, 2015.

Passive interest rate in Costa Rica rises to 7.25%

August 2008

The passive interest rate which began to rise in April will be at 7.25% starting today.

This rate is used as a reference for loans in the local currency; hence an increase in the passive rate is a stimulus for savers.
This also means that loans in colones that are indexed to this rate will most likely be adjusted to reflect the rise, and that borrowers will probably have to pay a little more for loans at the banks.

Costa Rica's savings interest rate rises to 7%

July 2008

For the fifth time this year, Costa Rica's interest rates are heading higher.

The latest adjustment reflects the fact that most financial institutions have raised their interest rates paid for savings in colons. As recently as April 16 the rate was just 4.25 percent.
This means that indexed credits in colons at this rate will probably be raised and borrowers wil have to pay a bit more.

Costa Rica central bank hikes base interest rate by 0.75 points

July 2008

Costa Rica's central bank announced an increase of 0.75 percentage points in the base lending rate (TBP).

The rate now stands at 6.50 percent, up from 5.75 percent on July 9, and a record low of 4.25 percent four months ago.
So far this year, the rate has been increased four times. The latest increase follows a decision by a majority of financial intermediaries to raise their interest rates for savings in colons.

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